Meet Craig Watson

We recently caught up with Craig Watson, associate partner in our Manchester asset advisory and recovery team, to ask him a few questions about his career and the North West property market.

What was your first ever job?

It’s difficult to recall my first ever job as I was a bit of a mercenary as a youngster, flitting between part-time jobs in various hotels, restaurants and shops in my home town, Scarborough.

The job that I remember most clearly, however, was working as an office junior for a local estate agent during the summer holidays which gave me my first real taste of working with commercial property in an office environment, and gave me the impetus to go on and study Urban Land Economics at university.

What is your favourite building in the North West, and why?

There are so many fantastic buildings to choose from but for me it’s tough (literally) to see past the former Midland Bank, 100 King Street, which I can see from the window of our Manchester office. The building is Grade II* listed due to its amazing gothic Art Deco style architecture which certainly stands out amongst a number of more modern office buildings. Jamie Oliver opened a restaurant in the former banking hall in 2011 and the upper floors were recently converted to Manchester’s newest 5* hotel, Hotel Gotham, which has become a favourite of various VIPs and celebrities....and Simon Cowell.

What is the biggest challenge you have faced in your career to date?

My placement year was spent in Sanderson Weatherall’s Valuation team in Leeds during the very turbulent 2007/2008 period when the property market took a severe downturn and the whole world of secured lending seemed to turn on its head. As a relatively inexperienced surveyor at the time it was a significant challenge to adapt to the ‘credit crunch’ and a rapidly changing property market, particularly having joined the company in early 2007 when property prices were consistently rising and nothing could go wrong!

What does the future look like in the North West property market?

Despite a couple of unexpected ‘bumps’ in the road, 2016 was a largely positive year for the North West’s commercial property market and I expect 2017 to provide more of the same. Although it may still be early days, Brexit appears to have very little impact on the region and there continues to be strong demand and increased activity in most, if not all, property sectors.

There is an increased requirement from international investors seeking deals outside of London’s heated property market. This, coupled with continued investment in infrastructure, such as the airport expansion and Metrolink upgrades, have played a significant part in bringing investment to the North West. The region will undoubtedly remain a key market for both national and international companies and 2017 will hopefully prove to be another positive year.

What one thing would you change to influence the future of the North West property market?

Although not specific to the North West, I would conclude Brexit negotiations with the EU quickly and amicably to remove any uncertainty in the property market and allow us all to get on with doing what we do best. “Brexit” has been in the headlines for long enough already and it would not be in anybody’s interests to let negotiations drag on well into 2017 or beyond, further increasing uncertainty and hesitation in the property market. A swift agreement would allow property investors, developers and occupiers to continue making the key decisions required to drive the property market forward.

If you could give one piece of business advice to your younger self, what would it be?

I’m not a fan of the word ‘networking’, but I would tell myself to get out there and meet as many people as possible, no matter how fruitless it might seem at times. You never know who you’ll get speaking to and it’s amazing how often you come across the same people further down the line in your career.

Name three people, dead or alive, that you would pick to work in your team.

Muhammad Ali – A fantastic character and probably the greatest sportsman that ever lived. They say confidence breeds confidence and he would be sure to bring that to the team if we had him in our corner.

Steve Jobs – He was a visionary thinker, knew how to succeed in business and never seemed to be satisfied which is essential in order to challenge the way things are done and come up with fresh ideas. He may be able to kit us out with the latest Apple gear too!

Frank Skinner – Besides me being a big fan, every good team needs a joker who can pick them up every now and again (assuming I’m having an off day, of course…)

Asset Advisory

With one of the country’s largest dedicated teams of surveyors and valuers, we have more than 25 years of experience in the corporate recovery and turnaround sector providing specialist advice on property, plant and machinery assets and corporate recovery and restructuring.
Our teams react swiftly and effectively to all forms of recovery situations, whether these involve one local entity or multiple locations spread across a wide geographic area.
We offer a full service from confidential, initial pre-formal insolvency appraisal, through formal valuation, to realisation of the assets via private treaty, tender or auction sale.
Our partner led team act regularly as Fixed Charge and Law of Property Act Receivers, in relation to both property and plant and equipment.
Contact Us

With one of the country’s largest dedicated teams of surveyors and valuers, we have more than 25 years of experience in the corporate recovery and turnaround sector providing specialist advice on property, plant and machinery assets and corporate recovery and restructuring.

Our teams react swiftly and effectively to all forms of recovery situations, whether these involve one local entity or multiple locations spread across a wide geographic area.

We offer a full service from confidential, initial pre-formal insolvency appraisal, through formal valuation, to realisation of the assets via private treaty, tender or auction sale.

Our partner led team act regularly as Fixed Charge and Law of Property Act Receivers, in relation to both property and plant and equipment.

The former Westwood Yarns site in Holmfirth is set to be transformed into a vibrant community and workplace after being successfully sold to West Yorkshire based property developers, Prospect Estates.

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Prospect Estates has plans to construct 50 residential units, as well as converting the historic mill into 12 apartments, and also transforming the Millpond building into a hotel and restaurant. Part of the office and workshop accommodation will be leased by the Oil Can Café and IK Classic Cars, both of which are relocating from the Carding Shed, retaining local companies and safeguarding jobs in Holmfirth.

Our Manchester office was appointed by administrators KPMG to market the site in March 2016. The property provides 168,551 sq ft of production workshops, offices and ancillary space set in an 8.54 acre site. The successful sale of the property follows the announcement earlier this year that our auctions team had sold the majority of machinery and assets at auction, raising approximately £1 million.

Commenting on the plans for the site, Rob Cooke, regional acquisitions manager for Prospect Estates, said: “This is a historic and important site and we are keen to preserve as much of the original character of the mill as possible, whilst also attracting jobs and new residents to the area.

“The mixed use scheme we are proposing will retain around a third of the original floorplate, including the Millpond building and the Northern Lights workshops. We hope to begin work on site in early 2017, subject to planning permission.”

The sale of the former Westwood Yarns site to Prospect Estates was arranged by David Murray and Craig Watson from our Asset Advisory team.

Commenting on the sale, Craig Watson, associate partner in our Manchester office, said: “We received a significant level of interest in the site from a variety of regional and national investors and developers and we are very pleased to have successfully secured a sale on behalf of the administrators. Prospect Estates’ plans to redevelop the site will bring jobs and investment to Holmfirth, and we are confident that this will be a very successful venture that will provide a significant boost to the town.”

Mark Sheridan works in our valuation and commercial agency teams and is head of our Bristol office.

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What was your first ever job?

My first ever job was a paper round, I did one on Saturdays and one on Sundays. Unfortunately the £12 weekly wage didn’t buy me very much.

My first surveying job was as a placement student at Sanderson Weatherall in Leeds, I have since worked in our Newcastle office for a year before moving back to Leeds again and setting up in Bristol almost five years ago.

What is your favourite building in the South West, and why?

There are so many buildings to choose from in Bristol, from Georgian and Regency buildings in Clifton to the Georgian Squares (such as Queen Square where our office is) or The Wills Memorial Building which tops many lists.

But I am going to go for a building that hasn’t even been built yet – The Bristol Arena. In my view this will be the first piece of truly modern architecture in Bristol and I hope it will be a sign of things to come.

What does the future look like in the South West property market?

I think we have reason to be positive in Bristol. No matter what your view is on Brexit (and we still don’t really know how this is affecting us) – we are a strong regional city with established retail, office and industrial markets all of which are presently performing well. Bristol prides itself as a creative centre, which is a growing part of the office market in the city and I can see this complimenting the established financial and professional services sector. We also have a strong residential market with higher than average (for UK regions) house prices and the city is often featured in polls as one of the top places to live in the UK. In addition are two large, well respected universities and resultantly a good student development/investment market.

The city is also carrying out highways / infrastructure improvements (Metrowest / Metrobus), whilst the Temple Quarter Enterprise Zone (incl Bristol Arena and re-modelling of Temple Meads train station), which is increasingly being brought into public ownership for re-development and will improve what is an important gateway into the city.

We are also set to enjoy quicker journey times to London through the electrification of the rail line, which many consider will have a positive effect on the city and property market.

What one thing would you change to influence the future of the South West property market?

A contentious issue in the Bristol area – bring the various local authorities together (at least in some form) to aide decision making on matters which affect the region, in particular infrastructure projects such as the future of road and rail.

If you could give one piece of business advice to your younger self, what would it be?

I am still only young but I would say that property is a people business - your colleagues, managers, clients and other professionals are all key to this. Ensure you are making a good impression and remember that even the first people you meet on your course at University, or your first day at work could become an important contact in years to come.

Name three people, dead or alive, that you would pick to work in your team.

In my team I have picked people I think are great managers but also team players.Sir Alex Ferguson – He would certainly have a story and of course teach me a thing or two about managing a team. Sir Richard Branson – We need a good businessman in there.Isambard Kingdom Brunel – A local hero – he could have a second go at sorting out the transport systems in Bristol and the South West!